How to Use the 5 Principles of Expert Entrepreneurs
4.0 (1 rating)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
4 students enrolled
Wishlisted Wishlist

Please confirm that you want to add How to Use the 5 Principles of Expert Entrepreneurs to your Wishlist.

Add to Wishlist

How to Use the 5 Principles of Expert Entrepreneurs

Learn how the most successful entrepreneurs start, grow & stand up again - backed up by 10+ years of scientific research
4.0 (1 rating)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
4 students enrolled
Created by Erik Maehlmann
Last updated 1/2016
Current price: $12 Original price: $35 Discount: 66% off
3 days left at this price!
30-Day Money-Back Guarantee
  • 4.5 hours on-demand video
  • 4 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion

Training 5 or more people?

Get your team access to Udemy's top 2,000 courses anytime, anywhere.

Try Udemy for Business
What Will I Learn?
  • Use a science-based method (which is again based on VERY successful entrepreneurs) to have their own business
  • Think and Decide like some of the most successful ENTREPRENEURS (- not just random business people)
  • Learn how common entrepreneurial literature is giving advice, but in the wrong order
  • Use Principles #1, 2, 3, 4 and 5 to MAKE QUICK DECISIONS on their own
  • NATURALLY follow the 5th principle which serves as a guiding star in your decisions
  • Make use of the secret behind embracing failure, and why doing it wrong will cost you every penny in your pocket including those you are currently wearing
  • Realize how small waves of failures shape your island of success, so that it is not just a dream anymore
  • Use my 3 tools that make you leap forward as an entrepreneur without ignoring what we know about success
View Curriculum
  • Basically nothing, but here are some recommendations: Decide and commit that you want to take the path which Expert Entrepreneurs take. Decide to relentlessly model the way very successful entrepreneurs make their decisions - like those covered in this course.
  • Prepare yourself that you will still need to learn hard skills next to this course for your entrepreneurial career - this course is there to make you START, GROW and ACT like an Expert Entrepreneur - not to teach you coding skills, etc. you need for starting the next Facebook

FINALLY a guideline for entrepreneurial success backed up by 10+ years of science research

The first business course that integrates

science-based findings on entrepreneurship

with easy-to-implement tools,

techniques to make the most promising business decisions

on your own, and a

down-to-earth explanation WHY this works

If you hate blurrish recommendations like "do what you love" for becoming *signficantly with a higher probability* successful with your starting business, this course is for you.

Don't you hate it? I used to do that, too.

Here's what I mean:

Have you lately searched the internet for secrets about entrepreneurship? Have you been "impressed" as much as I have been?

Title: Just another big insight!

How actionable is THAT?

"Limited" would be a polite answer.

But that's just an extract.

You get literally overwhelmed by them:

Believe in yourself ... even if you just got fired, have a hangover and the the coffee you are drinking is bad as the one from your last holidays

Follow you passion ... but your passion is watching the latest series which you just started to watch via your new subscription to Netflix which you want to try out

Just do it .. but you don't know WHAT to do (Why do they keep telling me these obvious advices?)

Yes... if it was so easy. Sure...

But we who want to have our own business look at these sites, right? Minutes and Minutes on Facebook, Reddit, Entrepreneur Magazine. Even if they don’t REALLY help.

We have made up our mind and we know what we want:

A future where we buy our friends drinks... and we don’t have to even think about the check

Looking at the mirror in the morning which shows us a face marked by the long hours of hard work, but also … uncannily SHINING from this deep sense of conviction that you are following the right path

A memory at the last anniversary meeting of our former fellow students who congratulated us to our business, yelling “man, your business is great!”

… And that’s why we happen to be on these sites. Entrepreneur Magazine and so on.

But think about how much time that is!

What does this cost you?

What energy level and hope do you have after 2 hours of ONLY READING this?

,,Just do it” is easy to say and there a lot of psychological reasons why this is INTERESTING (think of stylistic devices in rhetoric).

But what is the actionable value of these advices?

If you are truly honest with yourself? Not like if you took a cheat day with your meals today and said to yourself “yeah, but I really worked hard today, so this doesn’t count”.

Truly honest.


Then what we call progress.. and long hours of “work” is just an illusion.

But we still KEEP ON reading this. And then we wonder again what we really can BELIEVE now after reading the 5th blog post about the "step-by-step" roadmap guiding path to your own business.

And then you keep searching. For the "hidden secret". The ultimate recipy for your success as an entrepreneur.

But everything you have found so far is... Yes, it's working- probably... SOMEhow...

At least these articles you read: they get a lot of readers!

So they must be useful to others! But it's the same as watching a movie:

Without any further use afterwards.

No other benefit than the time itself.

Ok, by now you are probably asking:

Yeah, but where should I go to get useful information? It's not as simple as that. Let me have my time. I need to study more.

And… in the end everybody has to find his or her own truth, right?

Yes... So why don't we just continue dreaming and bury our wishes?

Well... here we go again: Because we want it. You want it. Success. With your own business.

You want your success as an entrepreneur. With tactics that are working.

But what happens if you continue reading such stuff without taking action?

What happens if you read these things, incorporated them into your routines etc…

but you are still not taking the RIGHT action.

Because these advices are just phrases. Lifeless quotes of somebody's success, forgone or not.

Would you agree that your biggest problem is not knowing what really works?

And more specifically: what works for you. What is really APPROVED and RECOMMENDED.

So what happens if you do not solve this problem?

Will you drop your idea of becoming an entrepreneur?

Will your failures be too high, too irreversible?

Will you make one of these failures we know about people continuously make they start their business?

Where is this leading you? You somehow did something, yes.

But does this … reading… impact your total happiness after a few hours?

Do you have the same smile of relinquished joy and of knowing what needs to be done which you have … when you see little, hopeful babies and you know they want you to make a funny grimace?

Do you really feel that happy with this totally unproductive reading?

And let’s get more specific here.

How do you feel right now with yourself when you probably browsed a lot of different online courses and sites to teach you how to move forward?

Do you thinking you’re making real progress?

And your income, your wealth? How is it growing? Is it?

Let me quickly tell you what kind of funny comparison this reminds me of:

I have this mental picture if I think about how your wealth thinks about random advices like the ones above.

Ok, imagine this:

Your wealth is like a whale.

Yes, a whale.

Those big animals.

A whale… STRANDED at the beach.

And your wealth – the whale- is BEGGING you to FINALLY be surrounded by a stream of …….money again.

Do you see this picture now, too? How it is dying of thirst?

Ok, that’s enough for now. You should feel the urgency by now.

So let’s get to the positive site, my eager student:

How would knowing what VERY successful entrepreneurs intuitively do… help you step in their footprints?

What effects would knowing HOW to come up with business idea AND new products or services for your current business help you in the future?

Looking back at your previous challenges in life and how certainty helped you overcome them:

How would the certainty you get from knowing these are SCIENCE-based insights help you to overcome the challenges of entrepreneurship?

How much time, how much money, how much hassle would that save?

How much faster could you start as well as grow your business?

Maybe we together can reach some of these things in this course.

My name is Erik Maehlmann and I hold a Master of Science in Entrepreneurship.

During my studies we covered what science can actually tell you what makes entrepreneurs successful.

And more specifically:

How a certain way of thinking and decision-making makes some entrepreneurs as successful (they are VERY successful) as they are.

I studied this more in-depth and wanted to know the actionable parts.

So here is what I can offer you:

Introducing an online course

on the mindset of EXPERT ENTREPRENEURS,

on how to imitate their decisions for entrepreneurial success

and on the tools to put these insights

from 10+ YEARS scientific research into action

I exclusively selected this content to give you only the most actionable advices. The core content a years-of-study Master program in Entrepreneurship at a top-level university could give you. Now you might think these books and the concepts in these books are too theoretical. Even though many successful entrepreneurs deeply appreciate the work of these authors and these concepts…

But I understand your concerns.

So here is my answer:

These are natural concepts of entrepreneurship.

Let me explain this.

The components of this mindset (the exact phrase is decision-logic) are insights gained by professors.

Yes, I agree: that’s the theoretical part.

But they gained these insights by looking at what VERY successful entrepreneurs have to say.

How they think.

How they do things differently than “not-so-successful” entrepreneurs.

How they make decisions.

Let me put some numbers to this “very” successful:

The entrepreneurs who contributed to this scientific study - each of them- founded companies worth now between $200 million and $6,5 billion.

Let me give you some quick extra information (to compare this):

The average startup that raises angel equity (so more successful ones) in the US is valued by $4.2 million.

So the least successful of these expert entrepreneurs has a company valued by MORE THAN 59 TIMES the average value.

Do you see now why they are called expert entrepreneurs?

To get even more specific about this fancy name “expert entrepreneurs”:

The founders who participated in milestone study (which lead to the mindset we are talking about in this online course) had a tremendous amount of experience, founded multiple companies, endured successes as well as failures, took their companies public, and …

….shared a common way of thinking when making decisions (covered in the course).

And yes, I repeat myself here, the least successful company of these founder is worth now more than 59 times the average (pause) successful company in the US (more than $200 million).

What are the end results of this course?

Ok, back to topic:

In this online course, we are covering the decision-logic used by the most successful entrepreneurs, including the 5 principles for the early business phase.

The content of this course is based on 10+ years of research in entrepreneurship and on what leading entrepreneurship professors, but also on what business people intuitively recommend.

Here is what others are saying about this research on the mindset of Expert Entrepreneurs:

First good paper I 've seen

Vinod Khosla, co-founder of Sun Microsystems, Billionaire.

We will have a look at the real quotes from expert entrepreneurs who analyzed 10 different decision situations, based on a 17-page problem (of course summarized for you).

At the end you will be able to imitate these founders in their decisions.

And let’s get specific here:

What is success more than making the right decision when it comes to figuring out

How you should start a business... with the personality, skills, and knowledge that you have

How to GROW

How you get more customers

How to deal with the competition

How to do the pricing

How to market your product

The researchers gained the principles of this way of leading a business by hearing what the expert entrepreneurs have to say about these points

and extracting the principles from it.

And this online business class course is serving you these insights in an actionable format.

These principles will help you understand a broad variety of new business approaches (you might have heard about these).

These new findings of entrepreneurship research (covered in the course) are the bases of the content of the following books

(yes, that means the authors built their business management styles on the research insights – but most likely unconsciously):

Steve Blank: The Four Steps to the Epiphany

Eric Ries: The Lean Start-up

Alexander Osterwalder: Business model canvas

Ash Maurya: Running Lean

So these authors intuitively used the concepts derived from more than the last 10+ years of entrepreneurship and designed certain models from it.

But the unbiased origin of this new entrepreneurial movement is the mindset with its principles covered in this online course.

So personally, I would study the origin as well as these books.

But in the end the content of this course covers what’s backed up and proven, and then you can pick from the above books the tactics you like

(by the way: you will get the tools you need to put the research insights directly into action in this course, too).

What you can take home with you

Ok, let’s eliminate the fluff here: There are 5 Principles to this entrepreneurial mindset. These are woven into one final framework which is constantly used by entrepreneurs to make the right decisions.

We talk about the exact experiment with which the modern approach was revealed. This course does not give you the content of the research and leave you there. This is not just another blog post to be shared.

Things like

“Just do it”.

Title: How the lessons look like

We go through the different decision-logics of entrepreneurs.

We discuss

how the 5 principles interact together,

how leading entrepreneurial concepts like "The Lean Start-up" are DERIVED from these concepts and how you can apply the fundamental core of these insights by using actionable tactics given in this course.

So to get this picture straight:

You get the theory which was EXTRACTED from the practical site, so that it can be taught and learned. And THEN we cover how you can APPLY this again, so that you act as if you never did anything else than founding companies and growing them.

A natural entrepreneur.

How does that sound?

Thought so.

So the content of this course gives you the edge you need to finally fully understand the advices and rules of already successful entrepreneurs.

You will see the big picture of entrepreneurship better when you hear quotes like:

"It's fine to celebrate success, but it is more important to heed the lessons of failure." Bill Gates

In every success story, you will find someone who has made a courageous decision. -- Peter F. Drucker

"Everyone has ideas. They may be too busy or lack the confidence or technical ability to carry them out. But I want to carry them out. It is a matter of getting up and doing it." James Dyson

"Failure is an option here. If things are not failing, you are not innovating enough." Elon Musk

"The biggest risk is not taking any risk. In a world that's changing really quickly, the only strategy that is guaranteed to fail is not taking risks." Mark Zuckerberg

I can accept failure. Everyone fails at something. But I cannot accept not trying. -- Michael Jordan

If you have read until here, you are not looking for some make-me-feel-good-about-myself tips, labelled "The 7 Secrets Every Entrepreneur Knows About", but REAL advices.

Something.. which gives you a perspective how to look on opportunities, challenges and failures.

With PRINCIPLES serving as your guidelines.

Real stuff that is derived from RESEARCH.

Not too heavy stuff, but applicable one.

The business course will give you

the theoretical part, the “why this works”.

how many research studies are there, where can I get them?

how everything was derived

But is this actionable? I don't just want to her "principles" and "studies". I need actionable recommendations for my business. Give me some tools!

I knew this was coming. My answer: Everything is arranged for you.

Title: We will discuss everything with examples.

You will get the fundamental frameworks, actually two, the five underlying principles, the information about the research settings, the single recommendations derived from the principles, and the tools which incorporate these. All.

For whom is this course?

Now, a short note here.

If you want to

get the secret business idea which will make you rich overnight

know illegal tactics how to leverage your business

have another reason for your theory of your "No business advice out there is useful. Nobody can help me"- world view,

then I have to ask you a favor:

Please close this window.

Now, LEAVE IT OPEN, if you want to get…

Tool #2, resolving the question: How do I handle risks of my idea or in my business – and how do I minimize them?

The explanation why our intuitive approach and the one taught in business school is the opposite to what very successful entrepreneurs are doing

The 5 Principles of Expert Entrepreneurs

And THEN you can make better decisions when you are wondering…

Should I follow my passion or should I learn a new skill?

Should I lower my prices - to defeat the competition- or stay calm?

Should I select the most promising target market or should I build on the customers I already have?

By the way: How do I get customers… and how do I get MORE?

No course before has given you the science-based core recommendations after 10+ years of extensive entrepreneurship research- PLUS the tools for APPLYING them, leaving you with

actionable insights

... from scientific research

… ... on immensely successful entrepreneu

... ... ... that gives you the certainty to choose the way you want to go, while giving you the flexibility to adapt it in your way .


Think about what you probably just recently read:

It's about taking action.

Now is your opportunity. Here in this moment.

And think about how the next moments will look like if you decide to wait until "you really feel like it".

How often did you take no action at all?

How was your regret then?

How did you feel and HOW much you would have given if you would have done this one thing right:

smiling the right way when you wanted the most sympathetic person you have ever met to come and join your life

saying the right words to your partner so he or she does not feel like the worst person on earth when you break up with her

writing the right answer down on your piece of paper, the last one in your final exam, giving you the access to the institution you always wanted to apply for


Is "success with my own business" already on your list of "my deepest wounds"?

Do you feel a sense of urgency that it might happen to be so, if you continue to do the things as you are doing them?

Imagine what would be the WORST that could happen with all your choices. Really the worst. Would you agree that it is "not taking action" and always having this black cloud above you reminding you that "you always could have been..."?

Chris Guillebeau said we should ask ourselves, to leap foward: "What is worthy to be done, regardless of whether I succeed or fail?".

If you would have gotten this one thing right...

But you still can.

You still can get everything right. Even with your entrepreneurial career. With YOUR BUSINESS and the RIGHT PRINCIPLES.

So I am just here to tell you the hard-edge findings which resulted from studying EXPERT entrepreneurs.

The price of this course is ridiculous. I know.

Studying an entrepreneurship master costs you EASILY $5,000 per year.

Saving your time and not having to study 1 or more years, gives you YEARS OF TIME to practice entrepreneurship in the most recommended way.

In fact, with this course you can learn THE ONLY PRINCIPLES YOU NEED while doing anything else.

The time saved alone is worth hundreds of dollars, if I give myself a salary of just 8$ per hour…

Think about it: YEARS of research, distilled to the actionable content, for less than a cup of simple black coffee a day.

So this is my first online course. And I’m here to find out what my students want.

That's why this course is priced so cheaply. At the moment.

I will raise these prices in the future.

But that is also why I am giving you a guarantee here.:

The 30-Days 100% Quality risk elimination Guarantee

We both have a risk here.

My risk is that you are not satisfied although you paid for it.

Your risk is that you waste your money. So that's where the guarantee is coming into play.

I am giving you a risk-free secured 100%-30-days refund guarantee. A no hassle, no bargaining guarantee. No pain, no tears, no regrets. It’s just there.


Ok, here is why:

If you can give this course back in 30 days, I do not run the risk to leave you unsatisfied: after all you get your money back.

If you can give this course back in 30 days, you do not run the risk to waste your money. You can get it back. 100%. Probably one of the few things which ARE certain in this world.

Please look carefully at this guarantee.

Can you see it? Look really properly. Scrutinize it.

Still not seeing it?


Because there are no asterisks next to the symbol of your money-back guarantee. No asterisks, no star, no dot, no footnote.

Because this guarantee is UNCONDITIONAL. It is there to take the risk out and to SATISFY you. This course is only there to please you. Everything which could dissatisfy is eliminated.

But DON'T DECIDE NOW if this course is right for you.

You can do something else instead.

It's easy.

Just click on the green button "Take this course now", choose your payment method, pay and then TRY IT. Take a cup of coffee (which actually costs more than the course over a year) and have a look. At worst, you'll an interesting afternoon monologue (me) and your money back.

Remember there is a 100% money-back guarantee.

Not 99,99% - that would leave us with 1 in ten thousand without a no-questions-asked-guarantee. The number used here is 100%.

This is huge upfront promise by my side. This is a risk I take if I sell this course to you.

So I hope you see the value behind this guarantee. I hope you see the quality behind this promise made. And I hope you can value my effort behind this course.

And by the way: you are not just getting the framework. You are also getting the TOOLS as a BONUS, so you can use this concept for you.

This is because I quickly want to get feedback from students. If you are not satisfied

and you applied the tools and they are not working for you, then you can apply the 100% guarantee. And if you are satisfied then you can work with me together to make this and other courses even better course.

If I can get this quick feedback from you, I can continue to improve this course. Or make an advanced course. Of course, I would raise prices then. That's because of the additional effort on top of the hundreds of hours involved in this course to derive such bite-sized recommendations for you right here.

So in the future I will raise my prices.

But remember: You can and should act NOW. Since you bought the course now, you will not have to pay the higher prices in the future.

AND you will get all the bonus lessons and bonus sheets.

And my extra effort for FREE.

They will just be added to this course and you can watch the added material whenever you like.

So you avoid these higher prices and you get the other content ON TOP OF IT.

Again, it's easy. Just click on the green button "Take this course now", choose your payment method and pay. Just try it. You can give it back. Regardless how the advices of this course are working out for you, you can only improve yourself and your business with this course. And this is why you are here, right? To make you and your business more successful. To teach you how to APPLY that from which we know that it makes expert entrepreneurs so successful.

This course will benefit you… even if you don’t have any business idea or just a weak plan yet.

And ESPECIALLY if you already started.

You might think that … although you have the 100% quality guarantee from me… you still could lose time with this.

That's is why next to the refund guarantee you will get the 3 tools which show you how you can apply these science-based, over and over confirmed principles of expert entrepreneurs.

So you get the course with the tools.

But you can keep the tools, even if you are not satisfied with the course. And you get your money back. This is the perfect example for a risk-free transaction.

This is a win-game for you in every situation, while a feedback from you can make it a win-win game for both of us.

But that's onto you.

Your safety guarantee is non-negotiable, it is 100% secured and there.

What an unbeatable offer! And this is something you can finally take action on!

Coming back to the advices above:

Now you CAN “believe in yourself”. Now you CAN just do it.

So act now, and don’t risk asking yourself in the future:

It would have been nice.

It can be.

But you need to start.

Are you taking action… now?

Who is the target audience?
  • Don't take the course if you want the secret business idea which will make you rich overnight
  • Don't take the course if you want to know illegal tactics how to leverage your business
  • Don't take the course if you want to have just another reason for your theory of your "No business advice out there is useful. Nobody can help me"-world view,
  • Don't take this course if you are totally sure with your business idea or currently have a business AND if you just want tactics (e.g. The NEW Facebook Ad Conversion Strategy XY). This course is for the strategic entrepreneurs.
  • Take this course if you want to know what are common failure rates in the economy and why you can RAISE YOUR CHANCES to more than the average success rate of 20-50%
  • Take this course if you are curious to know how the research-based entrepreneurship approach used here is utilizing THE LAW OF BIG NUMBERS, a mathematical law found in every statistics basics book .. yet we forget to apply it to OUR business
  • Take this course if you don't want to spend WEEKS just reading articles on entrepreneurship, leaving you definitely more confused than you are now. AND by the way: you also get the tools to really IMPLEMENT these principles (not available anywhere else)
  • Take the course if you want to get the tools you need to APPLY these new insights about entrepreneurship- and you can even keep them if you decide to give the course back because you are totally unsatisfied: So you are getting them for FREE.
  • Click on "Take this course now" if you understand the nature of a risk-free transaction (see last paragraphs in the course summary)
Compare to Other Entrepreneurship Courses
Curriculum For This Course
33 Lectures
The Basics
5 Lectures 46:44

Who am I?

The Experiment: The Game

Why model successful entrepreneurs?

The Framework
12 Lectures 01:32:47
The Experiment: Results

The traditional approach

Quiz: The traditional approach
3 questions

The new approach

Quiz: The modern approach
3 questions

Handout: Expert Entrepreneurs
2 pages


Principle 1

Principle 2

Principle 3

Principle 4



Bonus: Overcoming Failure
The Tools
11 Lectures 01:36:51
Tool 1 I

Handout: Tool 1
3 pages

Tool 1 II

Tool 1 III

Tool 1 IV

Tool 2 I

Handout: Tool 2
5 pages

Tool 2 II

Tool 3 I

Handout: Tool 3
4 pages

Tool 3 III
The Whole Mindset
5 Lectures 45:49
How everything works together I

How everything works together II

Wrap Up

Thank You

Tool 3 II
About the Instructor
Erik Maehlmann
4.0 Average rating
1 Review
4 Students
1 Course
M.Sc. Entrepreneurship


my name is Erik and I'd like to bring theory and practice in entrepreneurship together.

My view is that theory can give you the direction you need to have to move forward. And then it is about APPLYING the knowledge you learned. Practice makes perfect.

Entrepreneurship is no different.

I hold a Master of Science degree in Entrepreneurship from Maastricht University (internationally accredited by the AACSB, EQUIS and AMBA).

And with my courses I'd like to prepare you to move *in a practical way* in the best direction based on common-sense. Based on science.

You can check out further rankings at the link below.